- Companies
- CAC Specialty
CAC Specialty Acquisition, Valuation, Funding & Investors
CAC Specialty was acquired by Baldwin Insurance for $1B in December 2025.
Cumulative funding CAC Specialty raised
$6M
across 1 funding round
About CAC Specialty
CAC Specialty is the specialty insurance brokerage division of CAC Group, delivering advisory and placement services for complex risks. It covers transactional liability, management liability, cyber liability, professional liability, structured solutions, and property plus casualty lines. Serving private equity sponsors and corporate clients, the New York-headquartered firm structures custom risk-transfer products including tax insurance and representations plus warranties coverage.
Founded
2019
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Commission
Valuation
$1B (acquired Dec 2025)
Sectors
CAC Specialty Acquisition
CAC Specialty was acquired by Baldwin Insurance for $1B on 2 December 2025.
Before the acquisition CAC Specialty had raised $6M across 1 funding round.
CAC Specialty, part of CAC Group, is a nationally recognized, employee-owned specialty and middle-market insurance brokerage specializing in financial lines, transactional liability, cyber, and surety products for industries including natural resources, private equity, real estate, senior living, education, and construction. The Baldwin Group (NASDAQ: BWIN), a leading independent insurance brokerage and advisory firm focused on middle-market distribution, retail, reinsurance, and MGA platforms, merged with CAC Group in a transformational deal announced December 3, 2025, and completed January 2, 2026. The merger creates one of the largest U.S. independent insurance advisory and distribution platforms, with nearly 5,000 employees across all major markets, projected 2026 gross revenue of $2 billion, and adjusted EBITDA over $470 million. Deal terms include upfront consideration of $1.026 billion, comprising $438 million cash and 23.2 million Baldwin shares valued at $589 million based on December 1, 2025, 30-day VWAP, at 7.9x 2025E pro forma adjusted EBITDA. Post-closing payments feature a performance-based earnout up to $250 million and $70 million deferred payment; the transaction is net leverage neutral, accretive to 2025, and accelerates deleveraging through 2028. All combined colleagues become shareholders holding majority equity. Strategic rationale pairs CAC's specialty expertise and data/analytics platform with Baldwin's scalable infrastructure and geographic footprint, expanding Baldwin's Insurance Advisory Services while providing CAC scale to accelerate growth. The deal follows a streak of billion-dollar brokerage mergers, including Gallagher's $13.45 billion AssuredPartners acquisition, amid competitive consolidation in insurance distribution.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 2 Dec 2025 | Strategic M&A | $1B |
CAC Specialty Funding History
CAC Specialty has raised a total of $6M across 1 funding round.
CAC Specialty funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Apr 2022 | Series A | $6M | CAC Specialty raised $2.14M in an Unattributed funding round on March 23, 2022 from undisclosed investors. CAC Specialty operates as part of CAC Group, a leading insurance broker providing advisory and placement services across insurance and capital markets, focusing on specialty lines. |
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Start Free TrialAcquisitions by CAC Specialty
CAC Specialty has acquired 1 company to date.
Last acquisition by CAC Specialty was on September 20th 2024. CAC Specialty acquired Media Guarantors for undisclosed valuation.
Latest Acquisitions by CAC Specialty
| Description | - |
| HQ Country | |
| HQ City | - |
| Deal Date | 20 Sep 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all CAC Specialty acquisitions and their M&A valuation multiples. Start Free Trial | |
CAC Specialty Competitors
CAC Specialty competitors include listed companies like Sukoon Insurance, Edelweiss Financial Services and Goosehead Insurance, and private ones like Healthcare.com, Vesttoo and AgentSync.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | $160M | $20M | $1B | 6.3x | ||
| Publicly listed | $889M | $125M | $889M | - | ||
| Private | $11M | - | $1.2B | 109.1x | ||
| Publicly listed | $606M | - | $1.3B | - | ||
| Publicly listed | $365M | $86M | $1.3B | 3.8x |
CAC Specialty Public Comps
CAC Specialty is no longer listed, but its public comps include Sukoon Insurance, Edelweiss Financial Services, Goosehead Insurance, Yuanbao, MHA, Waterdrop, TWFG, Wiz Co., AGMA and XChange Tec.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $889M | $125M | 0.7x | - | 5.0x | - | |||
| $606M | - | 2.1x | - | - | - | |||
| $365M | $86M | 4.2x | 3.8x | 17.9x | 12.4x | |||
| $652M | $209M | - | - | - | - | |||
| $338M | $59M | 1.5x | 1.5x | 8.6x | 7.7x | |||
| $593M | $63M | 0.5x | 0.4x | 4.3x | 3.8x | |||
| $234M | $56M | 2.3x | 1.8x | 9.3x | 6.7x | |||
| $318M | $140M | 1.4x | 2.2x | 3.1x | 3.7x | |||
This data is available for Pro users. Sign up to see all CAC Specialty competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CAC Specialty
| When was CAC Specialty founded? | CAC Specialty was founded in 2019. |
| Where is CAC Specialty headquartered? | CAC Specialty is headquartered in Denver, CO, United States. |
| Is CAC Specialty publicly listed? | No, CAC Specialty was acquired by Baldwin Insurance in December 2025. |
| Who acquired CAC Specialty? | CAC Specialty was acquired by Baldwin Insurance in December 2025. |
| How much was CAC Specialty acquired for? | CAC Specialty was acquired for $1B in December 2025. |
| How much funding has CAC Specialty raised? | CAC Specialty has raised $6M across 1 funding round. |
| What was CAC Specialty's last funding round? | CAC Specialty's last funding round was a $6M Series A in April 2022. |
| Which companies are comparable to CAC Specialty? | Companies comparable to CAC Specialty include Healthcare.com, Vesttoo, Sukoon Insurance, AgentSync, Edelweiss Financial Services and Goosehead Insurance. |
| How many companies has CAC Specialty acquired? | CAC Specialty has acquired 1 company, including Media Guarantors. |
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